On Monday, Nov. 1, the IRS will launch a new feature allowing any family receiving monthly Child Tax Credit payments to update their income using the Child Tax Credit Update Portal (CYC UP) , found exclusively on IRS.gov.
The new income feature can help families make sure they are getting the right amount of advance Child Tax Credit payments during 2021. You should enter any significant income changes by midnight on Nov. 1 so it will be reflected in November payment, scheduled for Nov. 15. If you are unable to make the changes on Nov. 1, enter them by Nov. 29 so they are reflected in the December payment.
Sincerely,
Maryna Varabyova, CPA
(877) 677-3737
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